According to a recently published report by Research Nester on “Performance Coatings Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the Performance Coatings Market in terms of market segmentation by resin, by technology, by end user industry and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The performance coatings market is segmented by resin, coating technology, end user industry and region. Based on resin, the market is segmented into epoxy, silicon, polyester, acrylic, alkyd, polyurethane, fluoropolymer and others. On the basis of coating technology, the market is segmented into solvent based, water based and powder based. Further, on the basis of end user industry, the market is segmented into building & construction, automotive & transportation, industrial, aerospace & defense, marine and others. The performance coatings market is anticipated to record a CAGR of around 6% during the forecast period i.e. 2019-2027. The market is segmented by resin, coating technology and end user industry. By resin, the polyurethane segment is anticipated to have leading share in the total revenue on account of being scratch and humidity resistant.
Adoption in wide range of industrial sectors
Performance coatings are being adopted in various sectors such as power, marine, automotive & aerospace, mining and mineral, wastewater treatment, oil and gas etc. Performance coatings enhance the physical properties of a product. Adoption of performance coatings in wide range of industrial sectors is expected to boot the growth of the performance coatings market.
Rampant growth of manufacturing sector
The key contributors towards the growth of manufacturing sector include consumer goods, automotive and aerospace which are expected to boost the growth of the performance coatings market.
Asia-Pacific is expected to account for more than 30% of the global market revenue during the forecast period. This is generally due to increase in urban population, booming manufacturing sector and introduction of smart cities in the region. Europe is expected to expand at a CAGR of 4.5% on the back of proliferation of the manufacturing sector in the region. Latin America is likely to gain momentum in the next few years on the back of developments in the marine, protective coatings, oil and gas, automotive refinishes and plastic coating sectors. This unfolds opportunities for ample investments in the industrial infrastructure sector.
However, harmful impact of performance coatings on health is expected to operate as a key restraint towards the growth of performance coatings market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the Performance Coatings Market which includes company profiling of Hampel, Sherwin- Williams Company, Jotun and Masco Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Performance Coatings Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.